Psagot Investment House Ltd. maintained its position in shares of Life Storage, Inc. (NYSE:LSI) during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,200 shares of the real estate investment trust’s stock at the end of the fourth quarter. Psagot Investment House Ltd.’s holdings in Life Storage were worth $102,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Public Employees Retirement System of Ohio acquired a new position in shares of Life Storage during the second quarter valued at approximately $7,150,000. BNP Paribas Arbitrage SA acquired a new position in shares of Life Storage during the third quarter valued at approximately $917,000. Oregon Public Employees Retirement Fund acquired a new position in shares of Life Storage during the third quarter valued at approximately $1,420,000. Fisher Asset Management LLC acquired a new position in shares of Life Storage during the third quarter valued at approximately $79,989,000. Finally, Creative Planning acquired a new position in shares of Life Storage during the third quarter valued at approximately $234,000. 91.78% of the stock is owned by institutional investors.
Shares of Life Storage, Inc. (NYSE:LSI) traded down 0.394% during mid-day trading on Friday, reaching $82.125. The company’s stock had a trading volume of 105,727 shares. The company has a market cap of $3.79 billion, a PE ratio of 34.579 and a beta of 0.59. Life Storage, Inc. has a 52-week low of $77.00 and a 52-week high of $118.18. The company has a 50-day moving average price of $83.40 and a 200 day moving average price of $88.25.
Life Storage (NYSE:LSI) last released its earnings results on Wednesday, November 2nd. The real estate investment trust reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $1.20. Life Storage had a return on equity of 5.62% and a net margin of 22.63%. The firm earned $127.80 million during the quarter, compared to analysts’ expectations of $122.29 million. During the same quarter last year, the business posted $1.32 earnings per share. The firm’s revenue was up 34.0% on a year-over-year basis. Equities analysts expect that Life Storage, Inc. will post $2.23 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, January 26th. Investors of record on Tuesday, January 17th were given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 4.61%. The ex-dividend date was Thursday, January 12th. Life Storage’s dividend payout ratio is currently 152.61%.
LSI has been the subject of several recent analyst reports. Zacks Investment Research raised Life Storage from a “sell” rating to a “hold” rating in a report on Friday, September 30th. BMO Capital Markets raised Life Storage from a “market perform” rating to an “outperform” rating and set a $96.00 price objective for the company in a report on Wednesday, October 26th. They noted that the move was a valuation call. Cantor Fitzgerald set a $108.00 price objective on Life Storage and gave the stock a “buy” rating in a report on Wednesday, November 2nd. FBR & Co boosted their price objective on Life Storage from $95.00 to $105.00 and gave the stock a “mkt perform” rating in a report on Thursday, November 3rd. Finally, TheStreet lowered Life Storage from a “buy” rating to a “hold” rating in a report on Wednesday, November 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $100.45.
In other Life Storage news, Director Arthur L. Havener, Jr. bought 2,724 shares of the business’s stock in a transaction that occurred on Friday, November 18th. The stock was purchased at an average price of $79.55 per share, for a total transaction of $216,694.20. Following the completion of the transaction, the director now owns 5,639 shares of the company’s stock, valued at approximately $448,582.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen R. Rusmisel bought 500 shares of the business’s stock in a transaction that occurred on Friday, November 11th. The shares were acquired at an average price of $81.51 per share, with a total value of $40,755.00. Following the transaction, the director now directly owns 4,712 shares of the company’s stock, valued at approximately $384,075.12. The disclosure for this purchase can be found here. Insiders have purchased 3,309 shares of company stock valued at $264,389 in the last quarter. 2.60% of the stock is currently owned by company insiders.
About Life Storage
Life Storage, Inc, formerly Sovran Self Storage, Inc, is a self-administered and self-managed real estate investment trust. The Company owns and operates self-storage facilities across the United States. As of June 30, 2016, the Company had an ownership interest in and/or managed 563 self-storage properties in 26 states under the name Uncle Bob’s Self Storage.
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